Highlighting the deepening partnership between India and the European Union (EU), External Affairs Minister S. Jaishankar praised the signing of the Free Trade Agreement (FTA) as a significant milestone during the India-EU forum. Jaishankar emphasized the potential for enhanced collaboration in various areas such as security, defense, climate, technology, and talent exchange.
The FTA, according to Jaishankar, marks a transformative step forward in the bilateral relationship, with promising prospects for further growth. He expressed optimism that the India-EU Forum will facilitate more dialogues and foster greater alignment between the two entities. Prime Minister Narendra Modi, alongside European Council President Antonio Costa and European Commission President Ursula von der Leyen, celebrated the successful conclusion of negotiations for the landmark India-EU FTA on January 27.
The leaders highlighted the strategic importance of the FTA in boosting trade, investments, and shared prosperity between India and the EU. They emphasized the need for comprehensive reforms within the World Trade Organization (WTO) to enhance its efficacy and align with the objectives of all member nations. Strengthening economic ties between India and the EU is deemed crucial in the face of global uncertainties, aiming to drive growth, sustainable development, and resilient supply chains.
India and the EU leaders affirmed their commitment to fully implement the FTA and expedite negotiations on an Investment Protection Agreement (IPA) and an Agreement on Geographical Indications (GIs). They also pledged to enhance bilateral investments, explore Blue Valleys initiatives, and promote private sector engagement in bolstering specific value chains.
